In the recent years, the world is facing a serious economic crisis. This has been the case for over five years now but we have been able to survive the crisis through your hard work as employees. In addition, there has been a lot of development in the field of information technology. This development has both been positive and negative to the software industries. The reason is that, there has been new development in the industry and at the same time, new destruction.
This advancement in technology has seen a rise in software piracy among other unethical and criminal activities. This has directly affected our performance as a company. Due to this, I regrettably inform you that our company has not been able to make good profit from our sales in the last fiscal year. Most of our software has been pirated and this seriously cut down our revenues. The company is in need of quite a lot of resources so that it can keep performing well and to achieve this, it is cutting on some of its expenses.
The board of directors has therefore decided that for this coming holiday, there will be no holiday bonuses. However, it should be noted that this is a temporary step taken as the company sort out the piracy issue. After this problem is solved, full holiday bonuses will therefore be reinstated and if possible, the company will backdate all those bonuses that will have been skipped.